{"id":331594,"date":"2025-02-20T23:25:26","date_gmt":"2025-02-20T15:25:26","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331594"},"modified":"2025-02-20T23:25:30","modified_gmt":"2025-02-20T15:25:30","slug":"trade-the-news-tokyo-gas-enters-philippines-through-fgen-lng-stake","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-tokyo-gas-enters-philippines-through-fgen-lng-stake\/","title":{"rendered":"Trade the News: Tokyo Gas enters Philippines through FGEN LNG stake"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>First Gen Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>FGEN<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 27.43<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

TOKYO GAS Co., Ltd., Japan\u2019s largest natural gas utility company, has completed its acquisition of a 20% equity stake in FGEN LNG Corp., the liquefied natural gas (LNG) terminal subsidiary of Lopez-led First Gen Corp. (FGEN).<\/p>\n\n\n\n

\u201cThis subscription will deepen our partnership and enhance synergy that will boost our efforts in support of the Philippines\u2019 energy security and stability, even as we all pursue decarbonization,\u201d Francis Giles B. Puno, vice-chairman and chief executive officer of FGEN LNG and concurrent president of First Gen, said in a statement on Wednesday.<\/p>\n\n\n\n

The acquisition marks the Japanese company\u2019s first investment in a commercially operational liquefied natural gas terminal project overseas. First Gen did not disclose the transaction amount.<\/p>\n\n\n\n

Tokyo Gas is one of the world\u2019s largest LNG buyers, with an annual purchase volume of 13 million tons.<\/p>\n\n\n\n

It operates over 63,000 kilometers of gas pipelines, serving approximately 8.8 million customers.<\/p>\n\n\n\n

In May last year, First Gen LNG Holdings Corp., a wholly owned subsidiary of First Gen, executed a shareholders\u2019 agreement and a share subscription agreement with Tokyo Gas for the latter to subscribe to shares in FGEN LNG.<\/p>\n\n\n\n

Upon effectivity, FGEN LNG Holdings will hold an 80% stake, while Tokyo Gas will own the remaining 20% in FGEN LNG.<\/p>\n\n\n\n

FGEN LNG is the owner and operator of the offshore LNG terminal project located within First Gen\u2019s Clean Energy Complex in Batangas City.<\/p>\n\n\n\n

Before the acquisition deal, Tokyo Gas partnered with First Gen in December 2018 for the development and construction of the terminal, which broke ground in May 2019.<\/p>\n\n\n\n

Earlier this year, the company secured a permit from the Department of Energy, allowing it to operate and maintain its interim offshore LNG terminal for its own use for 25 years.<\/p>\n\n\n\n

For the nine months ending in September, First Gen\u2019s attributable net income fell by 16.1% to $39.8 million due to lower contributions from its renewable energy business.<\/p>\n\n\n\n

Gross revenues went down by 5.9% to $568.48 million while gross expenses increased by 3.5% to $1.46 billion.<\/p>\n\n\n\n

First Gen and its subsidiaries are primarily engaged in the power generation business and operate power plants that run on geothermal, wind, solar, hydro, and natural gas.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-331594","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=331594"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331594\/revisions"}],"predecessor-version":[{"id":331596,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331594\/revisions\/331596"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=331594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=331594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=331594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}